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Donald Trump’s net worth tanked by $1 billion due to COVID-19

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(Financial News) The net worth of US President Donald Trump’s assets dropped $1 billion in less than a month amid a coronavirus pandemic, Forbes reports.

About a month ago, the state of the American president’s fortune stood at $3.1 billion, since then it has decreased to $2.1 billion.

The size of assets may change again following the movement of indices, Forbes notes.

The core of the Trump empire, which the president still owns but is controlled by his family, is still connected to commercial real estate. Before the coronavirus pandemic, these facilities were valued at $1.9 billion after deducting debt. By March 18, 2020, this value has dropped to about $1.2 billion.

Trump, in particular, owns commercial property in Manhattan. The usually vibrant center of New York is almost empty due to measures to combat the spread of COVID-19.

In addition to commercial real estate, the president owns more than 500 residential properties throughout the country, the value of which fell to $148 million.

The situation has become even more difficult for Trump’s hotel business. The Trump Organization tried to sell a hotel in Washington, DC, but now these plans are on hold. According to The Washington Post, the president’s companies lost more than 550 employees.

Golf courses owned by the American president have also fallen in price.

Trump also reportedly has cash on hand to the tune of $160 million. What looked like a bad investment in the last few years, as stock markets skyrocketed, is now the most efficient part of the president’s portfolio.

Lena S.
Lena is an adventurous soul searching the world for truth and balance. She is a mother of 2 beautiful daughters and a full time writer for Financial News where she covers various topics from finance, government, politics, current events, crypto and technology.

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